Germany's auto industry to axe thousands more jobs
January 24, 2024
Major car suppliers in Germany say they are struggling with the high upfront costs of shifting to EVs and “slow demand,” with companies looking to lay off thousands of workers, as much as 20% of total staff in some cases, in the coming years.
ZF Friedrichshafen, which makes transmissions, shock absorption systems, and chassis components for more than 55 auto brands and is Germany’s…